Clicky

Fed Bails Out the Rich</B>

Default content image
Listen
Media Options
Listen

The Federal Reserve Board came under attack from congressmembers yesterday for its unprecedented role in orchestrating the $3.5 billion bail-out of the hedge fund Long-Term Capital Management. The Fed was accused of helping organize an anti-competition cartel between international banks and LTCM, which would wield more power than any single central bank.

Guest:

  • Doug Henwood, Editor of Left Business Observer, a monthly magazine. He is also author of Wall Street.

Related Story

Video squareStoryJul 20, 2017Married to the Mob: Investigative Journalist Craig Unger on What Trump Owes the Russian Mafia
The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.

Make a donation
Up arrowTop